17668. Ottawa Exchange Bank (Ottawa, OH)

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: January 19, 1894
Location: Ottawa, Ohio (41.019, -84.047)

Metadata

Model: gpt-5-mini
Short Digest: f43169d3

Response Measures

None

Description

Multiple contemporaneous articles (Jan 19–20, 1894) report the Ottawa Exchange Bank 'assigned' to assignees (Dr. Reed and Bruce McGrevey) — i.e., placed in the hands of assignees/receivers and effectively closed. No run or depositor panic is mentioned; the failure is attributed to the cashier's misconduct and injudicious investments. I marked the episode as suspension_closure because the bank suspended operations and appears to be permanently closed/assigned.

Events (1)

1. January 19, 1894 Receivership

Newspaper Excerpt: The Ottawa Exchange Bank ... assigned yesterday to Dr. Reed and Bruce McGrevey. The assets are about $70,000. The bank will pay about 40 cents on the dollar. The cashier, B. F. Denniston ... is charged with being its wrecker through high living and injudicious investments.
Source: newspapers

Newspaper Articles (10)

1. January 20, 1894 The Evening World New York, NY

Article from The Evening World, January 20, 1894

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Article Text

OHIO BANK ASSIGNS. Cashier Denniston Accused of Wrecking an Ottawa Institution. (By Associated Press.) OTTAWA, O., Jan. 20.-The Ottawa Exchange Bank, the property of S. Slauson, assigned yesterday to Dr. Reed and Bruce McGrevey. The assets are about $70,000. The bank will pay about 40 cents on the dollar. and the real estate may raise it to 75 cents. It was the oldest bank in Northwestern Ohio. The cashier, B. F. Denniston. who is in New York, is charged with being its wrecker through high living and Injudiclous investments.

2. January 20, 1894 The Evening World New York, NY

Article from The Evening World, January 20, 1894

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Article Text

OHIO BANK ASSIGNS. Cashier Denniston Accused of Wrecking an Ottawa Institution. (By Associated Press.) OTTAWA, O., Jan. 20.-The Ottawa Exchange Bank, the property of S. slauson, assigned yesterday to Dr. Reed and Bruce McGrevey. The assets are about $70,000. The bank will pay about 40 cents on the dollar, and the real estate may raise it to 75 cents. It was the oldest bank in Northwestern Ohio. The cashier, B. F. Denniston. who is in New York, is charged with being its wrecker through high living and injudicious investments.

3. January 20, 1894 The Evening World New York, NY

Article from The Evening World, January 20, 1894

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Article Text

OHIO BANK ASSIGNS. Cashier Denniston Accused of Wrecking an Ottawa Institution. (By Associated Press.) OTTAWA, O., Jan. 20.-The Ottawa Exchange Bank, the property of S. slauson, assigned yesterday to Dr. Reed and Bruce McGrevey. The assets are about $70,000. The bank will pay about 40 cents on the dollar, and the real estate may raise it to 75 cents. It was the oldest bank in Northwestern Ohio. The cashier, B. F. Denniston, who' is in New York, is charged with being its wrecker through high living and injudicious investments.

4. January 20, 1894 The Evening World New York, NY

Article from The Evening World, January 20, 1894

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Article Text

OHIO BANK ASSIGNS. Cashier Denniston Accused of Wrecking an Ottawa Institution. (By Associated Press.) OTTAWA, O., Jan. 20.-The Ottawa Exchange Bank, the property of S. slauson. assigned yesterday to Dr. Reed and Bruce McGrevey. The assets are about $70,000. The bank will pay about 40 cents on the dollar. and the real estate may raise it to 75 cents. It was the oldest bank in Northwestern Ohio. The cashier, B. F. Denniston, who is in New York, is charged with being its wrecker through high living and Injudiclous investments.

5. January 20, 1894 The Morning News Savannah, GA

Article from The Morning News, January 20, 1894

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Article Text

AN OHIO BANK FAILS. Its Cashier Accused of Wrecking It by High Living. Ottawa, O., Jan. 19.-The - Ottawa Exchange Bank assigned to-day. Its assets are about $70,000. The bank can pay about 40 cents on the dollar and the real estate may raise it to 75 cents. It is the oldest bank in North western Ohio. The cashier, Ben. F. Denniston, who is in New York, is charged with being the wrecker, due to high living and injudicions investments.

6. January 20, 1894 The Wilmington Daily Republican Wilmington, DE

Article from The Wilmington Daily Republican, January 20, 1894

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Article Text

Wrecked by the Cashier. OTTAWA, O., Jan. 20. -The Ottawa Exchange bank, the property of S. Slauson, has assigned. handing over all property and money to Dr. Reed and Bruce McGrevey as assignees. The bank will pay about forty cents on the dollar. The cashier, Ben F. Dinniston, who is in New York, is charged as the wrecker, due to high living and injudicious investments.

7. January 20, 1894 Waterbury Evening Democrat Waterbury, CT

Article from Waterbury Evening Democrat, January 20, 1894

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Article Text

An Ohio Bank Wrecked. OTTAWA, O., Jan. 20.-The Ottawa Exchange bank has assigned. The bank will pay about 40 cents on the dollar. It is the oldest bank in northwestern Ohio. The cashier, Ben F. Denniston, who is in New York, is charged with being the wrecker, due to high living and injudicious investments.

8. January 20, 1894 The Evening Herald Shenandoah, PA

Article from The Evening Herald, January 20, 1894

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Article Text

Wrecked by the Cashier. OTTAWA, O., Jan. 20.-The Ottawa Exchange bank, the property of S. Slauson, has assigned, handing over all property and money to Dr. Reed and Bruce McGrevey as assignees. The bank will pay about forty cents on the dollar. The cashier, Ben F. Dinniston, who is in New York, is charged as the wrecker, due to high living and injudicious investments.

9. January 20, 1894 Evening Journal Wilmington, DE

Article from Evening Journal, January 20, 1894

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Article Text

An Ohio Bank Wrecked. OTTAWA, O., Jan. 20.-The Ottawa Exchange bank has assigned. The bank will pay about 40 cents on the dollar. It is the oldest bank in northwestern Ohio. The cashier, Ben F. Denniston, who is in New York, is charged with being the wrecker, due to high living and injudicious investments.

10. January 20, 1894 St. Paul Daily Globe Saint Paul, MN

Article from St. Paul Daily Globe, January 20, 1894

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Article Text

An Ohio Bank Closed. Ottawa, O., Jan. 19.-The Ottawa Exchange bank. the property of S. Slauson, assigned today, handing over all property and money to Dr. Reed and Bruce McGrevy as assignees. It caused the greatest excitement. The assets are about $70,000. The bank will pay about 40 cents on the dollar, and the real estate may raise It to 75 cents. It is the oldest bank in Northwestern Ohio. The cash. ier, Ben F. Demiston, who is in New York, is charged as the wreeker, due to high living and injudicious investments.